Silicon Valley companies are adapting their requirements for in-person workspaces as employees are reluctant to return to the office.
Evaluate liability and property coverage requirements to safeguard against accidents or injuries and restore your assets.
Consult your realtor and lender for personalized insurance recommendations aligned with your home and loan specifics.
A developer is requesting a delay on its mixed-use project at Encinal Terminals in the San Francisco Bay Area due to unfavorable economic conditions. Tim Lewis Communities aims to postpone the redevelopment of the former industrial site, which includes plans for 589 homes and commercial space, until the market improves. High construction costs, falling rents, and a challenging permitting process have made the project financially unviable. The Alameda City Council will consider the request for a three-year extension on January 7.
Expensive properties don't always yield strong cash flows or significant appreciation due to high costs.
Small property owners face zoning laws, tenant protections, and costly property modifications alike.
Protect Pipes: Insulate exposed pipes to prevent freezing and bursting during cold weather.
Seal Air Leaks: Check windows, doors, and outlets for gaps to save on heating costs.
California has enacted a law aimed at stabilizing its home insurance market, focusing on encouraging insurers to cover more homes in fire-prone areas and to resume writing new policies across the state.
Projected average home price: over $1 million by 2030.
High demand due to robust job market.
Senator Jesse Arreguín has introduced SB 9 to facilitate the development of accessory dwelling units (ADUs) by eliminating the requirement for property owners to reside on-site. This bill aims to address housing displacement and increase housing availability in California. Supporters highlight the growing popularity of ADUs as a solution to the housing shortage, with nearly 84,000 units permitted from 2016 to 2022, representing about 20% of new units produced in the state.
The Bay Area housing market remains strong, with significant year-over-year price increases and robust buyer interest. In March 2024, the median sold price for single-family homes reached $1,386,500, marking a 15.5% rise from the previous year. While sales activity surged 31.7% month-over-month, there was a 5.4% decline year-over-year. Regional trends show varying price increases across counties, with Marin County experiencing the highest growth. The market is slightly favoring sellers, but experts do not predict a crash, citing strong economic fundamentals and ongoing demand.
With a rental cost of $161 per 100 sq ft, California has one of the highest rental prices in the US, with avg rents ~$3K/mo.
California homes are spacious, averaging 1,860 sq ft, but buying a home offers better long-term value than renting.